DivergenceRSI PIVOT (RSIP) HOW IT WORKS?
This script draws a line when rsi cross over or under the oversold and overbought line. Supprisingly these pivots sometimes good indicator for positive and negative divergence or continuation.
For example:
+ if the price goes above the previos rsi overbought area (red line), it means positive sign and price will contiue to climb like number 1 examples.
+ if the price goes above the previous oversold area (green line). It means positive divergence start like number 2 examples.
+ this script can also say us to up move ended. Because the price can't go above the price like number 3 examples.
+ There are a lots of signals in it ;) you can find them with little effort.
What about 4? Actually it is not a bullish sign but a little pump might come.
Dont be hesitate to use "RSI Pivot" and press like button ;)
Cheers :)
